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August 01, 2015 10:21 PM ET

Energy Equipment and Services

Company Overview of AKOFS Offshore AS

Company Overview

AKOFS Offshore AS provides vessel-based subsea well construction and intervention services to the oil and gas industry. It offers riser based well intervention services that include slickline and electric line well intervention, coiled tubing well intervention, well testing and well clean-up, and well stimulation and pumping; and riserless well intervention services that include well logging, light perforating and zone isolation, and plug setting and removal. The company also provides subsea intervention and construction services; light drilling services that include through tubing drilling with coil and downhole motor, and through tubing rotary drilling with slim pipe and system for managed...

Karenslyst Allé 57

Oslo,  0277

Norway

Founded in 2006

Phone:

47 23 08 44 00

Key Executives for AKOFS Offshore AS

Chief Executive Officer and President
Age: 52
Chief Financial Officer
Senior Vice President of Operations
Age: 59
Regional President of North America
Age: 51
Vice President of Project & Technology
Compensation as of Fiscal Year 2015.

AKOFS Offshore AS Key Developments

AKOFS Offshore Announces Unaudited Consolidated Earnings Results for the Second Quarter and First Half Year Ended June 30, 2015

AKOFS Offshore AS announced unaudited consolidated earnings results for the second quarter and first half year ended June 30, 2015. For the quarter, the company reported operating revenues and other income of NOK 186 million against NOK 613 million a year ago. Operating profit before depreciation, amortization and impairment (EBITDA) was NOK 31 million against operating loss before depreciation, amortization and impairment of NOK 480 million a year ago. LBIT was NOK 56 million against NOK 1,557 million a year ago. For the six months, the company reported operating revenues and other income of NOK 354 million against NOK 1,007 million a year ago. Operating profit before depreciation, amortization and impairment (EBITDA) was NOK 7 million against operating loss before depreciation, amortization and impairment of NOK 439 million a year ago. LBIT was NOK 165 million against NOK 1,596 million a year ago.

AKOFS Offshore Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015

AKOFS Offshore reported unaudited earnings results for the first quarter ended March 31, 2015. For the first quarter, the company reported operating revenue and other income of NOK 168 million compared to NOK 394 million a year ago. LBITDA was NOK 24 million compared to EBITDA of NOK 41 million a year ago. LBIT was NOK 109 million compared to NOK 39 million a year ago. CAPEX and R&D capitalization was NOK 967 million compared to NOK 2 million a year ago.

AKOFS Offshore Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

AKOFS Offshore reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported operating revenue and other income of NOK 256 million compared to NOK 428 million a year ago. EBITDA was NOK 51 million compared to NOK 83 million a year ago. LBIT was NOK 21 million compared to EBIT of NOK 2 million a year ago. For the full year, the company reported operating revenue and other income of NOK 1,542 million compared to NOK 906 million a year ago. EBITDA was NOK 175 million compared to NOK 7 million a year ago. LBIT was NOK 1,117 million compared to NOK 640 million a year ago. CAPEX and R&D capitalization was NOK 46 million.

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